29751 Hiram Ct · New Haven, MI 48051

$39,000

2 bd · 1.0 ba · 700 sqft · SingleFamily · 269 Days on market

Built 1970 Fair condition 4,356 sqft lot $56/sqft · 83% below area

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• 4,356 sq ft lot
• Built 1970
• Listed 268 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $39k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 4.1% in New Haven — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 57/100 on livability (#650 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• L'Anse Creuse Public Schools (suburban): math 31% / reading 51% proficiency, ranked #184 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $34,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.72% ✓
• Cap rate: 23.74%
• Cash-on-cash: 62.32%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $232,010
• List price: $39,000
• Delta: -83.19%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.3%
• Equity multiple: 3.73×
• Total profit: $29,815
• Equity at exit: $5,815

10-year hold

• IRR: 65.9%
• Equity multiple: 7.64×
• Total profit: $72,535
• Equity at exit: $3,372

Cash invested: $10,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48051

• Home prices YoY: -31.8%
• Active inventory: 142
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,059 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $567

Break-even live

Break-even rent $341

Max offer price $39,000

Occupancy floor 41%

Sensitivity live

Price	-10% $594	-5% $581	+0% $567	+5% $554	+10% $540
Rent	-10% $483	-5% $525	+0% $567	+5% $609	+10% $651
Rate	-1.0pp $587	-0.5pp $577	base $567	+0.5pp $557	+1.0pp $547

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28123 23 Mile Rd New Baltimore, MI	1.0–2.0	1.0	800	$1,059	$1.32	0d	5	1.02mi

Listing history 18 events

1. 2026-06-21
   days on market $39,000 Active 269 DOM
2. 2026-06-18
   days on market $39,000 Active 266 DOM
3. 2026-06-17
   days on market $39,000 Active 265 DOM
4. 2026-06-16
   days on market $39,000 Active 264 DOM
5. 2026-06-15
   days on market $39,000 Active 263 DOM
6. 2026-06-13
   days on market $39,000 Active 261 DOM
7. 2026-06-13
   days on market $39,000 Active 260 DOM
8. 2026-06-09
   days on market $39,000 Active 257 DOM
9. 2026-06-08
   days on market $39,000 Active 256 DOM
10. 2026-06-07
    days on market $39,000 Active 255 DOM
11. 2026-06-04
    days on market $39,000 Active 252 DOM
12. 2026-06-03
    days on market $39,000 Active 251 DOM
13. 2026-06-02
    days on market $39,000 Active 250 DOM
14. 2026-06-01
    days on market $39,000 Active 249 DOM
15. 2026-05-31
    days on market $39,000 Active 248 DOM
16. 2025-09-26
    listed $39,000 Active
17. 2025-09-26
    listed $39,000 Active
18. 2025-09-24
    historical $39,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,708
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$1,135
• Taxable income: $6,576
• Est. tax owed @ 24.0%: −$1,578
• After-tax cash flow: $5,227/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 3 photos

Fair 45/100 Cosmetic rehab

This single-family home is in fair condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor Paint — Light wear and tear
• Minor Flooring — Light wear and tear
• Minor Kitchen cabinets — Light wear and tear
• Minor Bathroom fixtures — Light wear and tear

Value-add opportunities

• Both Paint — Fresh paint enhances curb appeal and interior aesthetics
• Both Flooring — New flooring improves aesthetics and reduces maintenance
• Both Kitchen cabinets — Fresh cabinets update the kitchen and improve functionality
• Both Bathroom fixtures — New fixtures update the bathroom and improve functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Light wear and tear	Minor	$500–3,000
Flooring · Light wear and tear	Minor	$500–3,000
Kitchen cabinets · Light wear and tear	Minor	$500–3,000
Bathroom fixtures · Light wear and tear	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Flooring — New flooring improves aesthetics and reduces maintenance ↑
• Both Kitchen cabinets — Fresh cabinets update the kitchen and improve functionality ↑
• Both Bathroom fixtures — New fixtures update the bathroom and improve functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: L'Anse Creuse Public Schools
• NCES district ID: 2621870
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $57,757
• Composite: 35.99/100
• National rank: #4790
• State rank: #184 of 540 in MI

Livability — New Haven

• Score: 57/100
• State rank: #650
• US rank: #22110

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,065
• Population (ZIP): 17,716

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 8% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Romanian 18% Lithuanian 5% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.06%
• Current HPI: 210.6017
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+0.0% since first listed

3 events — show timeline

• 2025-09-26 Listed $39,000 MiRealSource-MiMLS
• 2025-09-26 Listed $39,000 REALCOMP
• 2025-09-24 Coming Soon $39,000 MiRealSource-MiMLS